Balmoral agreement for remainder of Detour East

2012-12-19 18:05 ET - Property Agreement

Also Property Agreement (C-RDS) Radisson Mining Resources Inc (2)

The TSX Venture Exchange has accepted for filing a letter of intent dated Nov. 20, 2012, between Balmoral Resources Ltd. and Radisson Mining Resources Inc. whereby Balmoral may acquire the remaining 49-per-cent interest held by Radisson to hold a 100-per-cent interest in the Detour East property, Quebec. Consideration is $200,000 and 300,000 shares. The property is subject to a 2-per-cent net smelter royalty with Balmoral having the right to purchase the first 50 per cent for $1-million and the second 50 per cent for $2-million.